Tuesday 27 June 2017

Germany and France must tackle deficits -- Merkel

Gregory Viscusi

Germany and France must cut their deficits to restore stability to the eurozone, German Chancellor Angela Merkel said in an interview with Le Monde.

“Even those that were not in the firing lines of the markets, such as Germany, and as President Sarkozy said, France, must do their part,” Merkel said in the interview with the Paris-based afternoon newspaper.

The German Chancellor also said Germany will not compromise on its belief in financial stability and budget discipline.

“For Germany, this culture of financial stability and solidity is not negotiable.”

“Belonging to the eurozone will not give birth to a union made of financial transfers. It’s a crucial point for Germany, as is the independence of the European Central Bank.”

Bloomberg

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